SpringLeaf Therapeutics Inc., a Boston-based maker of combination drug delivery device/therapeutic products, came out of stealth mode today with a $15 million Series B financing that it will use to meet product development milestones, the company said.

The round was led by new investor SR One, the venture capital arm of GlaxoSmithKline, which joins existing investors Flybridge Capital Partners and North Bridge Venture Partners. In conjunction with the financing, Brian M. Gallagher, Jr., partner at SR One, will join SpringLeaf’s board of directors. Flybridge and North Bridge backed the $12 million Series A round in November 2008.

“This [new money] will help us meet important milestones, the most important of which is getting our device clinic-ready,” president and CEO Frank Bobe told Mass High Tech.

Founded in September 2007, SpringLeaf has been working out of the BU Photonics Center’s incubator since the beginning of 2009. Initially called Entra Pharmaceuticals, the company changed its name to SpringLeaf in late 2010 to have a stronger brand and to reflect its therapeutic focus.

Bobe would not disclose the therapeutic, saying only that it is a drug already on the market for the chronic treatment of a life-threating disease, and that sales of the drug top $1 billion worldwide. He said SpringLeaf has access to the drug through the company that makes it. It also has rights to a device developed at MIT in a collaboration including professors Michael Cima, who focuses on drug delivery systems, and Yet-Ming Chiang, an MIT professor and co-founder of lithium ion battery company A123 Systems.

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